All financial figures are in Canadian dollars unless otherwise noted Transaction Highlights: Extends Gibson’s strategic core position in Hardisty – enhances Gibson’s heavy crude oil network by extending reach to new and established producers in the growing Mannville Stack Grows high-quality, stable cash flows – 90%+ of revenue from the assets is supported by take-or-pay or fee-for-service arrangements, with 50% of volumes under long-term take-or-pay or area-of-dedication [Read more]
News
Alberta’s Smith says ‘significant’ deficits to come, rules out tax hikes and big cuts
EDMONTON - Alberta Premier Danielle Smith says "significant" deficits are in store for her province as it tries to grapple with low oil prices. The government's new budget is set to be unveiled later this month, and Smith says it's going to be a "tough" one. The premier told RED FM Calgary this week that she has ruled out tax hikes and "deep" service cuts, but says it means the province will need to run multiple deficits. She says the government will still prioritize health care, [Read more]
US natgas output to hit record high in 2026, while demand holds steady, EIA says
U.S. natural gas output will rise to a record high in 2026, while demand will hold steady, the U.S. Energy Information Administration said in its Short-Term Energy Outlook on Tuesday. EIA projected dry gas production will rise from a record 107.6 billion cubic feet per day in 2025 to 110.0 bcfd in 2026 and 111.2 bcfd in 2027. The agency also projected domestic gas consumption will hold at 91.6 bcfd in 2026, matching the 91.6 bcfd record high in 2025, before easing to 91.5 bcfd in [Read more]
Venezuelan oil output could return to pre-blockade level by mid-2026, EIA says
Expanded U.S. licenses for Venezuela-related deals are expected to restore the South American country's oil production by mid-2026 to levels seen before a U.S. naval blockade in December, the U.S. Energy Information Administration said on Tuesday. Venezuela's state oil company PDVSA was forced to make deep output cuts after Washington imposed the strict naval blockade to pressure Nicolas Maduro, the Venezuelan president captured by U.S. forces in early January. The blockade cut off [Read more]
U.S. will have to do ‘something very tough’ if no deal reached with Iran, says Trump
The United States will have to do "something very tough" if a deal is not reached with Iran, President Donald Trump told Israel's Channel 12 in an interview published online on Tuesday. "Either we reach a deal or we'll have to do something very tough," it quoted Trump as saying. Trump has said he is considering sending a second aircraft carrier to the Middle East, Axios and Channel 12 reported, amid simmering tensions between Washington and Tehran over Iran's nuclear programme and over its [Read more]
US power use to beat record highs in 2026 and 2027, EIA says
U.S. power consumption, which hit its second straight record high in 2025, will rise further in 2026 and 2027, the Energy Information Administration said in its Short-Term Energy Outlook on Tuesday. The EIA projected power demand will rise from a record 4,195 billion kilowatt-hours in 2025 to 4,268 billion kWh in 2026 and 4,372 billion kWh in 2027. Demand is surging in part due to data centers dedicated to artificial intelligence and cryptocurrency, and as homes and businesses use more [Read more]
BP’s buyback cut is short-term pain that could be Shell’s gain: Bousso
BP’s decision to scrap buybacks may be painful in the short run, but by prioritising production growth over shareholder payouts it can begin to repair its shaky financial footing. Cutting buybacks marks the most significant shift in BP’s financial framework since it halved its dividend in August 2020 following the pandemic-driven collapse in oil prices. The move, along with other cost-cutting and divestment plans, should go a long way toward bolstering BP’s weakened finances and would [Read more]
Norway’s Equinor plans sharp increase to international oil and gas output by 2030
Equinor's international oil and gas portfolio will return to growth in the next few years as the Norwegian energy group targets sharply increased output abroad by 2030, its head of foreign operations told Reuters. After recent divestment of onshore assets in Argentina, Equinor now produces oil and gas in seven countries outside Norway, down from a dozen in 2019. While domestic output is expected to remain stable, Equinor aims to boost overseas petroleum production to more than 900,000 [Read more]
Canadian oilpatch expected to keep bulking up through mergers and acquisitions
CALGARY - Oilpatch advisers are expecting the wave of consolidation to continue after last year's string of blockbuster Canadian deals, but whether foreign buyers are ready to jump into the fray remains an open question. Companies have seen the merit in bulking up through mergers and acquisitions as oil prices hover around the lacklustre US$60 per barrel mark, shareholders demand better returns through dividends and buybacks and uncertainty continues to cloud the ability for producers to sell [Read more]
International Petroleum Corporation Announces 2025 Year-End Financial and Operational Results and 2026 Budget, Reserves and Guidance
TORONTO, Feb. 10, 2026 (GLOBE NEWSWIRE) -- International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) today released its financial and operating results and related management’s discussion and analysis (MD&A) for the three months and year ended December 31, 2025. IPC is also pleased to announce its 2026 budget, with the focus on finalizing the development of the Blackrod Phase 1 project in Canada. As previously announced, IPC achieved first steam injection at [Read more]
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